State Banks, Government, Trade Unions, Et Al
Rusiripala Tennakoon
Recent news surrounding the controversial removal and appointment of General Managers in BOC and PB has caused much concerns in the Banking circles. Trade union retorts that followed the media disclosure about the government decision portrayed a melodramatic series of events marking a departure from the highly responsible and affable CBEU union culture that prevailed throughout in the banking Industry historically. Times have no doubt changed, so the old values.
Nevertheless, Society needs to be reminded of the relevant reminiscences which reflect the underlying spirit associated with Trade Union actions in the past and to show how the uncompromising attitudes of the then leaders relentlessly contributed to stand out as unflinching fighters for the cause of principles and ideologies. CBEU stood out as a colossal giant against movements that existed succumbed to the influence of bureaucrats. Short spells of party politics overriding the affairs of the union in usurpation of the broad interest of the membership have been successfully defeated. They were able to mobilize the union strength to pitilessly defeat various opportunisms propagated by both left and right winged powers that were. The purity with which they launched such struggles did not leave room for anyone to dispute or renounce them because of the highly democratic approach with a persistent and patient line of action they adhered to in educating the membership about the involved issues.
Regretfully, the CBEU’s role in this instance appears to have been hasty, premature, prejudiced and remotely influenced. Their pronouncements to resort to indefinite Strike action against the decision of the Government to replace the GMs of the two banks sounded more hilarious with no seriousness of a noteworthy warning! There was no factual or analytical opposition that they could establish and demonstrate to justify their stand. Any Trade Union action that affect the society at large, covering a wide spread membership in one industry cannot be sporadically promulgated in isolation of all other related issues. Perhaps a reasonable discussion of the various concerns and matters in the public domain about the affairs that prevailed in the State Banks could have led to a more sensible approach to the subject.
To make a long story short the recent Parliamentary COPE investigation into the glaring lapses and shortcomings in the management of the PB, revealed by government audit reports would suffice. The Public exposure of these proceedings bear ample evidence of the extremely unsatisfactory administration that existed there tainted with highly irregular and corrupt practices. The Cost to the Government coffers as a result of these abuses and in competencies was very high. The valiant effort made by the GM as the CEO of the Bank to cover up these sordid acts itself could have been impulsive enough to institute some kind of disciplinary action against him. Delinquencies highlighted by the Auditor General and examined by the COPE exposed misconduct, misuse, corruption and exploitation on the part of those responsible and accountable for execution of authority in the Bank. There was no hue and cry from the Trade Unions about those exposures. What a pity!
The reports we hear about BOC is no better. We heard about the highly unethical and unprecedented role play of the BOC in the 2015 CBSL Bond Scam by openly associating with the alleged culprits who are now before the Law. They provided facilitation of Rs. 15 Billion within a matter of minutes to support the Perpetual Treasuries sordid operation. Foreign currency frauds through IT maneuvers running into several hundreds of millions (875,000/= US$) were recently challenged in courts against the Bank and was ordered to reimburse in full with legal interest and costs.
Both PB and BOC played the cat’s paw role under the directions of the then Minister of Finance by agreeing to stay away from competitive bidding with other Primary Dealers in the alleged Bond Scam of march 2016.
These are matters for concern of all about the performance , administration and proper functions under regulatory provisions in respect of the banks.
CBEU has a long history of hard struggles (not mere roadshows) against injustices of the bank managements in instances of violations of principals and natural justice. A strike action at the Hongkong Shanghai Bank branch of the Union launched on 3rd August 1965 continued for one month and 18 days against a highly unprincipled policy introduced by the Bank making it a pre- condition to leave the union membership to become eligible for promotion to officer grades. A member of the Union by the name, O.C.De Crestor was to be victimized under this. The management agreed to withdraw their condition.
